• Source:JND
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Zoho is set to expand its footprint in India’s fintech space with Zoho Pay, a UPI-powered payments app designed to rival major platforms like Paytm and PhonePe. Following the launch of Arattai, Zoho’s messaging app, founder Sridhar Vembu is now aiming to unify communication and payments by integrating Zoho Pay into the chat platform, letting users send and receive money directly during conversations.

Zoho Pay Features: Unified Payments for Individuals and Businesses

Zoho Pay will support multiple payment methods, such as UPI, debit and credit cards, net banking and Zoho's proprietary Banking Connect service. Recurring UPI payments simplify billing for businesses, while users can accept payments via invoice emails, payment links, custom pages or client portals.

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Zoho Pay offers tools designed specifically to assist businesses managing high transaction volumes with dispute management, chargeback tracking and comprehensive reporting – all from one unified dashboard. Settlements are designed to be fast, transparent and free from hidden charges; you can even customise reports for transaction histories, refunds and summaries!

Integration with Zoho Ecosystem

Zoho Pay will integrate seamlessly with existing Zoho tools like Zoho Books, CRM and Invoice for businesses to accept payments without switching platforms. Furthermore, APIs will make integrating payment functionality easier for companies outside the Zoho ecosystem.

Transaction Fees and Security Standards

UPI payments: 0.5% platform charge

Card, net banking, RuPay: 2% fee

Bank transfers: 1% or ₹10, whichever is lower

Corporate credit cards: 2.75% fee

Zoho Pay offers enterprise-grade security features. Certified to PCI DSS Level 1 and ISO 27001:2022 standards, its TLS 1.2/1.3 encryption protects users' financial data while real-time monitoring, intrusion detection and fraud prevention tools protect users' financial privacy.

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Launch Timeline

Currently under internal testing, Zoho Pay will roll out in phases across India in the coming months, giving individuals and businesses a secure, integrated alternative for digital payments.

What this really means is Zoho is aiming for a one-stop platform for communication and payments, potentially shaking up India’s crowded UPI and digital payments landscape.

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